CO HB1093

Requires homeowner's insurance subrogation actions involving defective appliances purchased new and used for less than 5 years with damages exceeding $5,000 to include replacement of the defective appliance in the final judgment or settlement agreement.

Allows insured homeowners to waive total replacement of the defective appliance only through written agreement.

Defines "appliance" to include furnaces, stoves, washers, dryers, and dishwashers.

Takes effect August 7, 2012, unless subject to a referendum petition filed within 90 days of final adjournment, in which case effectiveness depends on voter approval in November 2012.

Applies to homeowner's insurance subrogation actions initiated on or after the effective date.